OLVAST: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
OLVAST
Largest movements
- Receivables within one year +€270,025
up €270,025 (+67.4%), from €400,761 to €670,786
of which Trade receivables: +€204,775
- Tangible fixed assets -€31,999
down €31,999 (-10.1%), from €316,071 to €284,072
of which Plant, machinery and equipment: -€16,901
- Stocks and contracts -€14,570
down €14,570 (-7.5%), from €193,000 to €178,430
- Trade debts +€146,670
up €146,670 (+54.2%), from €270,691 to €417,361
- Reserves +€78,134
up €78,134 (+22.2%), from €352,510 to €430,644
- Tax, wage and social debts +€35,115
up €35,115 (+75.7%), from €46,379 to €81,494
of which Taxes: +€35,978
- Debts after one year -€26,497
down €26,497 (-10.5%), from €251,563 to €225,066
- Staff costs -€56,472
down €56,472 (-13.8%), from €410,656 to €354,184
- Taxes +€21,433
up €21,433 (+135%), from €15,885 to €37,317
- Gross operating margin +€11,373
up €11,373 (+2.2%), from €517,608 to €528,981
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €954,191 | €1,188,068 | +€233,877 | +24.5% |
| Fixed assets | 21/28 | €336,464 | €304,372 | -€32,092 | -9.5% |
| Intangible fixed assets | 21 | €356 | €263 | -€93 | -26.2% |
| Tangible fixed assets | 22/27 | €316,071 | €284,072 | -€31,999 | -10.1% |
| Land and buildings | 22 | €265,909 | €258,750 | -€7,159 | -2.7% |
| Plant, machinery and equipment | 23 | €27,194 | €10,293 | -€16,901 | -62.2% |
| Furniture and vehicles | 24 | €18,846 | €11,483 | -€7,363 | -39.1% |
| Other tangible fixed assets | 26 | €4,121 | €3,546 | -€575 | -14.0% |
| Financial fixed assets | 28 | €20,037 | €20,037 | = | 0.0% |
| Current assets | 29/58 | €617,727 | €883,696 | +€265,969 | +43.1% |
| Stocks and contracts in progress | 3 | €193,000 | €178,430 | -€14,570 | -7.5% |
| Stocks | 30/36 | €193,000 | €178,430 | -€14,570 | -7.5% |
| Amounts receivable within one year | 40/41 | €400,761 | €670,786 | +€270,025 | +67.4% |
| Trade receivables | 40 | €257,984 | €462,759 | +€204,775 | +79.4% |
| Other amounts receivable | 41 | €142,777 | €208,027 | +€65,250 | +45.7% |
| Cash at bank and in hand | 54/58 | €15,347 | €25,092 | +€9,744 | +63.5% |
| Deferred charges and accrued income | 490/1 | €8,619 | €9,389 | +€770 | +8.9% |
| Total equity and liabilities | 10/49 | €954,191 | €1,188,068 | +€233,877 | +24.5% |
| Equity | 10/15 | €358,710 | €436,844 | +€78,134 | +21.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €352,510 | €430,644 | +€78,134 | +22.2% |
| Distributable reserves | 133 | €352,510 | €430,644 | +€78,134 | +22.2% |
| Amounts payable | 17/49 | €595,481 | €751,224 | +€155,743 | +26.2% |
| Amounts payable after more than one year | 17 | €251,563 | €225,066 | -€26,497 | -10.5% |
| Financial debts | 170/4 | €251,563 | €225,066 | -€26,497 | -10.5% |
| Amounts payable within one year | 42/48 | €343,918 | €526,158 | +€182,240 | +53.0% |
| Current portion of amounts payable after more than one year | 42 | €26,173 | €26,566 | +€393 | +1.5% |
| Trade debts | 44 | €270,691 | €417,361 | +€146,670 | +54.2% |
| Suppliers | 440/4 | €270,691 | €417,361 | +€146,670 | +54.2% |
| Taxes, remuneration and social security | 45 | €46,379 | €81,494 | +€35,115 | +75.7% |
| Taxes | 450/3 | €33,943 | €69,921 | +€35,978 | +106% |
| Remuneration and social security | 454/9 | €12,436 | €11,573 | -€863 | -6.9% |
| Other amounts payable | 47/48 | €675 | €737 | +€62 | +9.2% |
| Remuneration, social security and pensions | 62 | €410,656 | €354,184 | -€56,472 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,211 | €33,273 | -€3,938 | -10.6% |
| Other operating charges | 640/8 | €22,321 | €25,730 | +€3,409 | +15.3% |
| Gross operating margin | 9900 | €517,608 | €528,981 | +€11,373 | +2.2% |
| Operating profit (loss) | 9901 | €47,421 | €115,795 | +€68,374 | +144% |
| Financial income | 75/76B | €8,848 | €10,092 | +€1,244 | +14.1% |
| Recurring financial income | 75 | €8,848 | €10,092 | +€1,244 | +14.1% |
| Financial charges | 65/66B | €14,793 | €10,436 | -€4,356 | -29.4% |
| Recurring financial charges | 65 | €14,793 | €10,436 | -€4,356 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €41,476 | €115,451 | +€73,975 | +178% |
| Income taxes | 67/77 | €15,885 | €37,317 | +€21,433 | +135% |
| Profit (loss) for the period | 9904 | €25,591 | €78,134 | +€52,543 | +205% |
| Profit (loss) for the period to be appropriated | 9905 | €25,591 | €78,134 | +€52,543 | +205% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.